“When you do a merger you don’t always know the people that well,” Madnick told WebCPA. “But we both were members of DFK International [a global network of independent firms and business advisors] so we had known them for a year and a half. Ironically, we had been getting inquiries from firms in New Jersey who were interested in merging with us when Ehrenkrantz said, ‘We’d love to talk to you too.’ So we had a handshake deal in November and put off the official details until after the busy season.”

Madnick added that Ehrenkrantz brings expertise in such areas as medical practices, auto dealerships and broker/dealers. “They also have good, aggressive partners, which we like,” he said.